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Banks

RPT-Singapore's DBS says to cut 6 pct of workforce

(Repeats to fix formatting)

SINGAPORE, Nov 7 (Reuters) - DBS Group DBSM.SI, Southeast Asia's biggest bank, will cut 900 staff from Singapore and Hong Kong or six percent of its workforce by the end of this month to reduce costs, its CEO Richard Stanley said on Friday.

DBS earlier on Friday posted a 38 percent drop in quarterly profit, below expectations, as losses from bad debts quadrupled and it warned the financial crisis has made business challenging [ID:nSP310666]. (Reporting by Saeed Azhar and Kevin Lim; Editing by Neil Chatterjee)

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